Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 5,204.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,167 shares of the technology company’s stock after acquiring an additional 1,145 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Pure Storage were worth $72,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PSTG. FMR LLC lifted its stake in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. State Street Corp raised its holdings in Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after purchasing an additional 626,427 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Pure Storage by 3.2% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock worth $285,575,000 after buying an additional 177,559 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pure Storage by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after buying an additional 219,971 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after buying an additional 747,034 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of research reports. TD Cowen boosted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI lifted their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Citigroup boosted their price objective on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus raised their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Price Performance

PSTG opened at $70.94 on Tuesday. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67. The stock has a market capitalization of $23.14 billion, a P/E ratio of 186.69, a P/E/G ratio of 5.26 and a beta of 1.09. The business has a 50 day simple moving average of $64.89 and a 200-day simple moving average of $57.33.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.